MIRA
INFORM REPORT
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Report Date : |
29.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
BHOLANATH PRECISION ENGINEERING PRIVATE LIMITED |
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Registered Office : |
11, Kambross Industrial Estate, Sonapur Lane, Bhandup Sonapur Road,
Off. LBS Marg, Bhandup (West), Mumbai – 400078, Maharashtra |
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Country : |
India |
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Date of Incorporation : |
27.04.2005 |
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Com Reg. No. : |
152847 |
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CIN No : |
U29200MH2005PTC152847 |
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Tan No : |
MUMB15023B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Engineering Products. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a 3 years old company but has not filed any financials with
the Government Department till date. The Management parted general information,
but declined to part with detailed financials. Trade relations are fair.
Business is active. Payments are reported as slow but Correct. The Company can be considered for small to mediocre business dealings
at usual trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Vivek Koiri |
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Designation : |
Director |
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Contact No.: |
91-9821439930 |
LOCATIONS
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Registered Office : |
11, Kambross Industrial Estate, Sonapur Lane, Bhandup Sonapur Road, Off.
LBS Marg, Bhandup (West), Mumbai – 400078, Maharashtra, India |
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Tel. No.: |
91-22-2566 4338 / 6799 3260 / 2566 2856 |
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Mobile No.: |
91-9821439930 |
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Fax No.: |
91-22-2566 4338 / 6799 3260 / 2566 2856 |
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E-Mail : |
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Website : |
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Area : |
700 Carpet |
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Location : |
Owned |
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Factory : |
11, Kambross Industrial Estate, Sonapur Lane, Bhandup Sonapur Road, Off.
LBS Marg, Bhandup (West), Mumbai – 400078, Maharashtra, India |
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Area : |
1100 Sq. ft. |
DIRECTORS
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Name : |
Mr. H L Koiri |
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Designation : |
Chairman |
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Age : |
69 Years |
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Qualification : |
BE. Eng |
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Mobile No: |
91-9819515543 |
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Name : |
Mr. Vivek Koiri |
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Designation : |
Director |
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Age : |
31 Years |
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Qualification : |
Diploma Me c. Eng |
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Mobile No: |
91-9323820165 |
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Name : |
Mr. Ambar Koiri |
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Designation : |
Director |
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Age : |
37 Years |
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Qualification : |
M A C |
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Mobile No: |
91-9821439930 |
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Name : |
Mrs. Kasturi Koiri |
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Designation : |
Director |
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Date of Birth/Age : |
59 Years |
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Qualification : |
B.Sc Biology |
KEY EXECUTIVES
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Name : |
Mr. Sanjay Shirgaonkar |
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Designation : |
Executive |
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Mobile No : |
91- 9892066844 |
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Name : |
Mr. Sanket Shelke |
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Designation : |
Executive |
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Mobile No : |
91- 9323011558 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 31.03.2007
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Names of Shareholders |
No. of Shares |
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Mr. Ambar H Koiri |
2500 |
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Mrs. Kasturi H Koiri |
2500 |
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Mr. Vivek Koiri |
2500 |
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Mr. Hiralal Koiri |
2500 |
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Total |
10000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Engineering Products. |
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Products : |
v Jade – 25 Single
Spindle Automatic Lathe Machine v Hydraulic Power
Press v Shafts v Motor and
Electrical Lamination, Stamping v CNC Machining
Components v Revolving Center v Plain and
Carbide Tipped Dead Centres v Keyless
Precision Drill Chucks v Indexing and Non
Indexing Universal Collet Fixtures v Drill Jig
Bushers and Hardened and Ground Bushes v Morse Taper
Reducation Sleeves |
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Terms : |
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Selling : |
L/C, Cash / Credit |
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Purchasing : |
L/C, Cash / Credit |
GENERAL INFORMATION
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Customers : |
Manufacturers |
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No. of Employees : |
Total:40 (Office: 15, Factory:25) |
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Bankers : |
Shamrao Vithal Co. Op. Bank, Mulund Branch |
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Facilities : |
C/C Rs. 10.000 millions |
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Banking Relations
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Satisfactory |
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Auditors : |
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Name : |
Satya Narayan Vedula and Company, Chartered Accountants |
CAPITAL STRUCTURE
Authorised Capital:
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No. of Shares |
Type |
Value |
Amount |
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100,000 |
Equity Shares |
Rs. 10/- Each |
Rs. 1.000 million |
Issued, Subscribed & Paid-up Capital:
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No. of Shares |
Type |
Value |
Amount |
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10,000 |
Equity Shares |
Rs. 10/- Each |
Rs. 0.100
million |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
31.03.2008 |
31.03.2007 |
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Sales Turnover |
30.000 |
19.000 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8
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Name of the company |
BHOLANATH PRECISION ENGINEERING PRIVATE LIMITED |
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Presented By |
BHOLANATH PRECISION ENGINEERING PRIVATE LIMITED Bank of Baroda, Colaba
Branch, Mumbai – 400 039, Maharashtra, India |
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1) Date and description of instrument creating the change |
25.07.2005 Composite Hypothecation Agreement. |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 5.595 millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Stock, Book Debts and Movable Plant and Machinery. |
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4) Gist of the terms and conditions and extent and Operation of the charge. |
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5) Name and Address and description of the Person entitled to the charge. |
Bank of Baroda, Colaba Branch, Mumbai – 400 039, Maharashtra, India |
Notes:
v “Charge“include
mortgage- See Section 124A description of the instrument, that is to say,
whether trust deed, mortgage or debenture, should be given.
v “Persons entitled
to the charge” will include mortgages.
v Amount rate of
percent of the commission, allowance or discount paid or Made either directly
or indirectly by the Company to any person in consideration of his subscribing
or agreeing to subscribe, whether absolutely unconditionally, or procuring or
agreeing to procure subscriptions, whether absolute or conditional, for any of
the debenture included in this return, should be given in item No. 4.
Trade References
v Videocon, Aurangabad
v Philips, Mumbai
v Conproton Greens, Goa
Profile
Subject is a
Manufacturing Organisation of various Machines, Machine Tools Accessories,
Assemblies and machining components.
Bholanath precision has been established in 1972 and since then produces
various items as listed in 1972
and since then produces various items as listed in Products.
This company is
managed by experienced technocrats. Meticulous care is taken to produce items
strictly as per specification. Top quality raw materiel is used in
manufacturing process and suitable and proper heat treatment is done wherever
necessary. Strict inspection is followed at every stage of manufacturing and
the final product is also inspected and certified before dispatch. Goods are packed
as per international standard to prevent damage in transit.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
The market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
The Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 40.14 |
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UK Pound |
1 |
Rs. 79.66 |
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Euro |
1 |
Rs. 62.92 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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34 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, they have no basis upon which to
recommend credit dealings |
No Rating |
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